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Loving Luxury Living

How to buy a luxury real estate in Mallorca

How to buy a luxury real estate in Mallorca

Once the matching property is found and you could agree with the seller on a purchase price, you sign the option contract and make a 10% down payment of the purchase price, which is deposited with the notary. This will reserve the luxury property for you.

In case of a cancelation of the purchase of your side, the seller is entitled to this 10% as compensation, but should the seller drop off, you will receive this 10% back and a compensation in the amount go another 10% of the purchase price.

As next step you need a Spanish tax number for foreigners "NIE number" and preferably also a Spanish bank account, which is helpful in the purchase of the property and useful for the running costs.

At the notary appointment the purchase contract will be signed and you hand over the purchase amount to the seller in the form of bank checks. In return, you will receive all the important documents and keys of your new luxury real estate.

Generally we recommend you to hire a lawyer to really enjoy your new luxury real estate. Here we are happy to help you.

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